Indiana § 27-1-24.5-20 Acts of the commissioner; confidentiality

Indiana Statutes

§ 27-1-24.5-20 — Acts of the commissioner; confidentiality

Indiana § 27-1-24.5-20

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 24.5Pharmacy Benefit Managers

This text of Indiana § 27-1-24.5-20 (Acts of the commissioner; confidentiality) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-1-24.5-20 (2026).

Text

Note: This version of section effective until 1-1-2026. See also following version of this section, effective 1-1-2026. Sec. 20.

(a)The commissioner shall do the following:

(1)Prescribe an application for use in applying for a license to operate as a pharmacy benefit manager.

(2)Adopt rules under IC 4-22-2 to establish the following:

(A)Pharmacy benefit manager licensing requirements.

(B)Licensing fees.

(C)A license application.

(D)Financial standards for pharmacy benefit managers.

(E)Reporting requirements described in sections 21 and 29 of this chapter.

(F)The time frame for the resolution of an appeal under section 22 of this chapter.

(b)The commissioner may do the following:

(1)Charge a license application fee and renewal fees established under subsection (a)(2) in an amount

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Note: This version of section effective until 1-1-2026. See also
following version of this section, effective 1-1-2026.
Sec. 20. (a) The commissioner shall do the
following:
(1) Prescribe an application for use in applying for a license to
operate as a pharmacy benefit manager.
(2) Adopt rules under IC 4-22-2 to establish the following:
(A) Pharmacy benefit manager licensing requirements.
(B) Licensing fees.
(C) A license application.
(D) Financial standards for pharmacy benefit managers.
(E) Reporting requirements described in sections 21 and 29 of
this chapter.
(F) The time frame for the resolution of an appeal under section
22 of this chapter.
(b) The commissioner may do the following:
(1) Charge a license application fee and renewal fees established
under subsection (a)(2) in an amount not to exceed five hundred
dollars ($500) to be deposited in the department of insurance fund
established by IC 27-1-3-28.
(2) Examine or audit the books and records of a pharmacy benefit
manager one (1) time per year to determine if the pharmacy
benefit manager is in compliance with this chapter.
(3) Adopt rules under IC 4-22-2 to:
(A) implement this chapter; and
(B) specify requirements for the following:
(i) Prohibited market conduct practices.
(ii) Data reporting in connection with violations of state law.
(iii) Maximum allowable cost list compliance and
enforcement requirements, including the requirements of
sections 22 and 23 of this chapter.
(iv) Prohibitions and limits on pharmacy benefit manager
practices that require licensure under IC 25-22.5.
(v) Pharmacy benefit manager affiliate information sharing.
(vi) Lists of health plans administered by a pharmacy benefit
manager in Indiana.
(c) Financial information and proprietary information submitted by
a pharmacy benefit manager to the department is confidential.